Roche (OTCMKTS:RHHBY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Roche’s performance has been strong as sales are being boosted by new drug launches–Tecentriq and Ocrevus. Sales of Tecentriq were mainly driven by strong uptake in non-small cell lung cancer indication. Roche dominates the breast cancer space with strong demand for its HER2 franchise drugs like Herceptin, Perjeta and Kadcyla. The company also has a dominant position in lung cancer market. The FDA recently approved Hemlibra for routine prophylaxis to prevent or reduce the frequency of bleeding episodes in adults and children with haemophilia A with factor VIII inhibitors. The recently announced Ignyta acquisition will further strengthen pipeline. However, sales of Avastin and Tarceva continue to decline. Competition from biosimilars looms large on Roche's key drugs like Herceptin, Avastin and Rituxan. Roche has underperformed the industry in the last six months.”
RHHBY has been the topic of several other reports. Citigroup lowered Roche from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 18th. Berenberg Bank lowered Roche from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Cowen restated a “buy” rating and issued a $38.00 price target on shares of Roche in a research report on Tuesday, September 19th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Roche in a research report on Friday, December 29th. Finally, BNP Paribas lowered Roche from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Roche presently has a consensus rating of “Hold” and an average target price of $36.50.
Roche (RHHBY) traded down $0.12 during trading hours on Friday, hitting $32.23. The stock had a trading volume of 232,084 shares, compared to its average volume of 1,760,000. Roche has a 1-year low of $28.48 and a 1-year high of $36.82. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 0.92. The company has a market cap of $221,820.00, a price-to-earnings ratio of 22.38, a P/E/G ratio of 2.18 and a beta of 0.67.
A number of institutional investors have recently modified their holdings of RHHBY. Lenox Wealth Management Inc. raised its stake in Roche by 49.0% during the 3rd quarter. Lenox Wealth Management Inc. now owns 98,282 shares of the company’s stock worth $3,145,000 after buying an additional 32,335 shares during the period. Patten Group Inc. raised its stake in Roche by 12.2% during the 3rd quarter. Patten Group Inc. now owns 29,741 shares of the company’s stock worth $847,000 after buying an additional 3,239 shares during the period. Sterling Capital Management LLC raised its stake in Roche by 4.6% during the 3rd quarter. Sterling Capital Management LLC now owns 58,107 shares of the company’s stock worth $1,856,000 after buying an additional 2,535 shares during the period. Stonebridge Capital Advisors LLC acquired a new stake in Roche during the 3rd quarter worth $221,000. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Roche by 5.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,806,074 shares of the company’s stock valued at $121,794,000 after purchasing an additional 200,394 shares during the period. 0.58% of the stock is currently owned by institutional investors and hedge funds.
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Roche Company Profile
Roche Holding AG (Roche) is a research-based healthcare company. The Company’s operating businesses are organized into two divisions: Pharmaceuticals and Diagnostics. The Pharmaceuticals Division consists of two business segments: Roche Pharmaceuticals and Chugai. The Diagnostics Division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics.
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